In the face of the ongoing energy crisis, the European Commission and Member States have proposed a number of measures to combat rising gas prices, further reduce gas demand in Europe and enhance critical infrastructure. Their proposals seek to protect consumers and companies from soaring gas prices while maintaining and accelerating climate and environmental objectives.
To address immediate challenges this winter, the EU institutions must stand in solidarity with each other and implement short-term measures, including facilitating new gas supplies to maintain industrial activity and consumers’ welfare. Decision-makers should also consider long-term measures to achieve secure, sustainable and affordable energy and help find solutions to reduce dependency on Russian fossil fuel while at the same time continuing to support the EU's ambitions to decarbonise the economy.
The Commission must align new measures with better regulation principles and avoid conflicting regulations. Additionally, all EU energy policy initiatives should be linked with strong industrial policy to maintain the bloc’s attractiveness for investment. Likewise, decision-makers must prioritise the deployment of digital technologies, which can accelerate the speed and scale of the energy transition. Policymakers should also make an adequate assessment of possible long-term effects of market intervention measures, which should be limited in scope to avoid distortion in exceptional circumstances. Finally, the EU and the US should continue to work together to avoid new trade tensions and facilitate a stronger and more resilient energy sector.
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